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NNPC Ltd. Boosts Crude Oil and Gas Production to 1.8 Million Barrels Per Day

November 15, 2024

Abuja, Nigeria – The Nigerian National Petroleum Company Limited (NNPC Ltd.) has announced a significant increase in its crude oil and gas production, reaching 1.8 million barrels per day (mbpd) and 7.4 standard cubic feet per day (scfd), respectively. This milestone, achieved in line with the mandate of President Bola Ahmed Tinubu, marks a major recovery and progress in the country’s oil sector.

At a briefing held yesterday, NNPC Ltd. Group Chief Executive Officer, Mele Kyari, commended the efforts of the company’s production war room team, which played a pivotal role in driving this achievement.

“The team has done a great job not just in recovering production, but also in escalating production to levels that meet the expectations of our shareholders, as outlined in the mandates from the President, the Minister, and the Board,” Kyari stated.

The recovery was made possible by the collaborative efforts of NNPC’s Joint Venture and Production Sharing Contract partners, the Office of the National Security Adviser (NSA), and both government and private security agencies.

Lawal Musa, Chief War Room Coordinator and Senior Business Adviser to the Group CEO, provided further insights into the operations, noting that production had grown from 1.43 mbpd in June 2024 to 1.7 mbpd in August, and ultimately reached 1.808 mbpd in November.

He added, “We are confident that with the continued support and active collaboration of all stakeholders, especially in the area of security, we are on track to reach 2 mbpd by the end of the year.”

The Chairman of NNPC Ltd.’s Board of Directors, Chief Pius Akinyelure, expressed his joy over the production recovery and urged the company’s management to develop a cash flow projection based on the new production figures to aid in strategic planning. He also expressed optimism for further production growth, setting a target of 3 mbpd.

Senator Heineken Lokpobiri, Minister of State for Petroleum (Oil), also praised the team’s efforts and reiterated the federal government’s commitment to supporting NNPC Ltd. in its efforts to boost oil and gas production.

The recent achievements underscore the NNPC Ltd.’s determination to meet production goals and contribute to Nigeria’s economic growth and energy security.

Written by Adeyemi Adewale




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